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Gildan Activewear Inc GIL

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Stock XNYS Rating as of
$38.27 +0.95 (2.55%)
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As of Delayed Price Closed
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Company Report

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Gildan: Chamandy Set to Return as CEO After Existing Management Admits Defeat; Shares Fully Valued

David Swartz

Just days before the annual meeting, Gildan announced that Vince Tyra, who joined the firm as CEO in February, and all board members have resigned. Soon after Gildan’s release, activist shareholder Browning West issued its own statement to declare victory and confirm that Glenn Chamandy will return as CEO after its board slate is installed. Gildan framed the decision of its outgoing management to quit as a conciliatory gesture to institutional shareholders, while Browning West said that initial vote counts showed overwhelming support for the dissident board anyway. In either case, an acrimonious and costly proxy battle has come to an end.

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Price vs Fair Value

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GIL is trading at a 584% premium.
Price
$38.27
Fair Value
$23.00
Uncertainty
Medium
1-Star Price
$92.50
5-Star Price
$59.90
Economic Moat
Syjmf
Capital Allocation
Lzrjsmf

Bulls Say, Bears Say

Bulls

Gildan has dominant market share in printwear basics and has invested in a low-cost production and distribution process to maintain its position. Demand for imprintables has recovered since a significant drop during the pandemic.

Bears

Limiting its gross margin expansion potential, Gildan’s hosiery and underwear segment has become partially dependent on private-label products as its attempts to build a branded basics business have largely failed.

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Trading Information

Previous Close Price
$37.32
Day Range
$37.11–38.30
52-Week Range
$26.98–38.87
Bid/Ask
$36.74 / $41.12
Market Cap
$6.45 Bil
Volume/Avg
834,447 / 938,836

Key Statistics

Price/Earnings (Normalized)
13.59
Price/Sales
2.08
Dividend Yield (Trailing)
2.04%
Dividend Yield (Forward)
2.14%
Total Yield
7.76%

Company Profile

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts, sweatshirts, and other apparel to wholesalers, major clothing brands, and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels. Brands include Gildan, American Apparel, Comfort Colors, and Gold Toe. Gildan produces most of its clothing at factories in Latin America and recently began operating a new plant in Bangladesh. Incorporated in 1984, the Montreal-based company operates internationally but generates nearly 90% of its sales in the US.
Sector
Consumer Cyclical
Industry
Apparel Manufacturing
Stock Style Box
Mid Core
Total Number of Employees
44,000
Website
http://www.gildan.com

Competitors

Valuation

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Metric
GIL
VFC
UAA
Price/Earnings (Normalized)
 13.5918.1912.58
Price/Book Value
 3.343.111.46
Price/Sales
 2.080.490.57
Price/Cash Flow
 10.476.097.48
Price/Earnings
GIL
VFC
UAA

Financial Strength

Metric
GIL
VFC
UAA
Quick Ratio
 0.780.581.18
Current Ratio
 2.381.232.13
Interest Coverage
 9.610.7577.12
Quick Ratio
GIL
VFC
UAA

Profitability

Metric
GIL
VFC
UAA
Return on Assets (Normalized)
 6.69%−1.06%5.05%
Return on Equity (Normalized)
 12.43%−5.45%11.78%
Return on Invested Capital (Normalized)
 9.65%0.27%6.87%
Return on Assets
GIL
VFC
UAA
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